 "Mahindra, M&M")
International revenues for most of the Mahindra group’s business ventures in the past five years either grew or dwindled marginally, save for M&M, the flagship business, whose missteps shrank its turnover to Rs 33,000 crore, down by Rs 4,000 crore from the financial year 2019, thereby dragging down group profits.
The diversified group’s combined revenues are split equally between domestic and international, and 64 per cent and 36 per cent after excluding Tech Mahindra, which gets almost all its revenue offshore. (Tech Mahindra is not an M&M majority-owned company.)
The firm’s operating management, at a recent investor meet, said it
